Bitcoin again over $ 8000, but will buyers retain control

Bitcoin price went above $ 8000 for the first time since November 21st. Currently, the price is over $ 8030.

There is no specific catalyst behind today’s movement, but for the third consecutive time, the price has been rising in price and by a considerable amount. The price is already meeting resistance, which will be the key moment here, which will ensure the additional price increase. The area is strong, we already have two previous broken diagonals, but CCI has not yet crossed the bottom 50 up, and the area at 50 Fibonacci is holding the front for now.

If the Kendall of today ends in this way, a “three white wars” configuration will be formed, which foreshadows the continuation of the upward movement in the medium term.

Recently, however, the reasons that shape such impulses in digital currencies, most notably in Bitcoin, are either the sale of stolen bitcoins, the partial sale of whale portfolios or the systematic pumping through Tether. History shows that after such times, it will usually be followed by a significant reduction in price.

 Trader Milko Zashev

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance